Housing

CFPB: New Report Finds that Manufactured Housing Loan Borrowers Face Higher Interest Rates, Risks and Barriers to Credit

Consumers tend to be rural and lower income, and those who do not own the underlying land have the greatest challenges Today the Consumer Financial Protection Bureau (CFPB) published a report that provides new insights into manufactured housing financing, a vital source of lending for millions of manufactured housing homeowners. Manufactured housing is a small…

HUD: $160 Million Awarded to Five Communities to Revitalize Housing, Invest in Neighborhoods

 U.S. Housing and Urban Development (HUD) Secretary Marcia L. Fudge on Wednesday announced that five communities have received a combined $160 million to redevelop severely distressed housing and spur comprehensive revitalization under the federal Choice Neighborhoods Initiative. HUD has named Camden, New Jersey; Cleveland, Ohio; Detroit, Michigan; Fort Myers, Florida; and Lewiston, Maine as this…

HUD and Census Bureau: New Residential Sales Report for April 2021 Released

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for April 2021: New Home Sales Sales of new single-family houses in April 2021 were at a seasonally adjusted annual rate of 863,000. This is 5.9 percent (±11.2 percent)* below the revised March…

FHFA: U.S. House Prices Rise 12.6 Percent Over the Last Year; Up 3.5 Percent in the First Quarter 2021

U.S. house prices rose 12.6 percent from the first quarter of 2020 to the first quarter of 2021 according to the Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices were up 3.5 percent compared to the fourth quarter of 2020. FHFA’s seasonally adjusted monthly index for March was up 1.4 percent from February. “House price growth over the…

HUD: $5 Billion Announced to House People Experiencing Homelessness

Secretary Fudge: “With HUD’s swift allocation of this $5 billion in American Rescue Plan funding, we are providing communities the resources to give homes to the people who have had to endure the COVID-19 pandemic without one.” U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge today announced the allocation of $5…

FHFA: RFI Issued on Short-Term Rental Units in Condominium, Cooperative, and Planned Unit Development Projects

The Federal Housing Finance Agency (FHFA) today issued a Request for Input (RFI) on Fannie Mae and Freddie Mac’s (the Enterprises) eligibility requirements for mortgages in condominium (condo), cooperative (co-op), and planned unit development (PUD) projects where a large portion of units are offered for short-term rental (30 days or less) or are used primarily…

CFPB: Reports Issued Detailing Mortgage Borrowers Continuing COVID-19 Challenges

The Consumer Financial Protection Bureau (CFPB) released two reports today showing that more work needs to be done to help mortgage borrowers coping with the COVID-19 pandemic and economic downturn. The first report documents that Black and Hispanic mortgage borrowers are much more likely to be delinquent or in a forbearance program than white borrowers….

HUD: New Education Campaign Launched in Observance of Mental Health Awareness Month

The U.S. Department of Housing and Urban Development (HUD) announced today that it is commemorating Mental Health Awareness Month 2021 this May with the launch of a new campaign that will educate the public about the various forms of housing discrimination people with mental health, intellectual or developmental disabilities often face, and what they should…

HUD: More Than $20 Million Made Available to Fight Housing Discrimination

Grants will support fair housing testing, education, enforcement activities The U.S. Department of Housing and Urban Development (HUD) announced that it is making $20,229,156 available to fair housing organizations across the nation working to fight housing discrimination. The funds will support a variety of activities, including fair housing testing, education and outreach, and capacity building,…

FHFA: Final Rule Published on Enterprise Resolution Plans

The Federal Housing Finance Agency (FHFA) today published a final rule that requires Fannie Mae and Freddie Mac (the Enterprises) to develop credible resolution plans, also known as “living wills.” These resolution plans would facilitate a rapid and orderly resolution of the Enterprises should FHFA be appointed their receiver per the Housing and Economic Recovery Act of…